Deep-pocketed investors have adopted a bearish approach towards Paramount Global PARA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PARA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Paramount Global. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 5 are puts, totaling $170,582, and 3 are calls, amounting to $195,000.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $12.5 for Paramount Global over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Paramount Global options trades today is 8079.6 with a total volume of 8,327.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Paramount Global's big money trades within a strike price range of $10.0 to $12.5 over the last 30 days.
Paramount Global Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PARA | CALL | SWEEP | BULLISH | 01/16/26 | $3.3 | $3.1 | $3.3 | $10.00 | $66.0K | 7.3K | 563 |
| PARA | CALL | TRADE | BEARISH | 01/16/26 | $3.3 | $3.25 | $3.25 | $10.00 | $65.0K | 7.3K | 763 |
| PARA | CALL | TRADE | BEARISH | 01/16/26 | $3.25 | $3.2 | $3.2 | $10.00 | $64.0K | 7.3K | 20 |
| PARA | PUT | TRADE | BULLISH | 01/16/26 | $10.0 | $1.31 | $1.31 | $10.00 | $39.3K | 7.7K | 300 |
| PARA | PUT | TRADE | BEARISH | 07/19/24 | $0.12 | $0.11 | $0.12 | $10.00 | $36.0K | 2.0K | 3.0K |
About Paramount Global
Paramount Global operates in three global business segments: TV media, filmed entertainment, and direct to consumer. The TV media business includes television production studios and various broadcast and cable networks, including CBS, 15 owned CBS affiliates, Paramount, Nickelodeon, MTV, BET, and VH1. Filmed entertainment consists multiple film studios, most importantly Paramount Pictures. The film studios produce and distribute movies that they license to movie theaters and other media outlets. Direct to consumer includes multiple streaming platforms, including Paramount+, which now includes Showtime, Pluto TV, and BET+. Much of the content on Paramount's streaming platforms is created by the production studios housed within the firm's other two business segments.
Following our analysis of the options activities associated with Paramount Global, we pivot to a closer look at the company's own performance.
Current Position of Paramount Global
- With a volume of 6,341,986, the price of PARA is down -1.59% at $12.04.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 61 days.
Professional Analyst Ratings for Paramount Global
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $14.0.
- An analyst from Rosenblatt has decided to maintain their Neutral rating on Paramount Global, which currently sits at a price target of $14.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Paramount Global with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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